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Enter Symbol
or Name
USA
CA



ML Gold Corp
Symbol MLG
Shares Issued 107,422,763
Close 2018-09-12 C$ 0.07
Market Cap C$ 7,519,593
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ML Gold resumes drilling at Stars project

2018-09-13 09:39 ET - News Release

Mr. Adrian Smith reports

ML GOLD TARGETS MINERALIZED FELDSPAR PORPHYRY AND BRECCIA WITH GRADES IN EXCESS OF 0.5% COPPER DRILLING AT STARS PROJECT

Crews are now back in the field drilling at ML Gold Corp.'s Stars project following a temporary break as a result of the abnormal wildfire season in central British Columbia. Drilling is set to continue through October and will target the newly identified porphyry and the related fluid conduit responsible for copper mineralization on the Stars project.

New hydrothermal breccias identified in drill core with grades in excess of 0.5 per cent copper, cemented with chalcopyrite, are important indications that there is a significant copper-bearing hydrothermal system intimately related to the newly identified porphyry. Specifically, several 10-foot samples grading up to 0.78 per cent copper are attributed to this early potassic phase occurring within the previously reported hole 10 interval of 189 metres at 0.33 per cent copper equivalent. Drilling will continue to test the copper-bearing breccias and intrusions and test the mineralization to greater depths where more consistent higher grades of copper are anticipated.

Newly identified copper breccia in hole 10 (DD18SS010) and its significance:

  • Early hydrothermal breccia event developed during potassic conditions based on absence of pyrite and sericite in the matrix;
  • Dynamic system where a copper-bearing hydrothermal fluid has exploded to produce the breccia composed of coeval porphyry and the chalcopyrite cement;
  • Predictable zonation with pyrite dominant at the top moving to lower-sulphidation-state mineralogy (chalcopyrite, chalcopyrite-bornite, bornite) at depth;
  • High in the system, leaving significant potential at depth;
  • Early in discovery cycle.

Assays from additional completed holes are pending and will be released as soon as possible.

ML Gold's Stars project is ideally located 60 kilometres southwest of the resource town of Houston, B.C. The project site is low elevation, has gentle topography and is accessible by all-season mainline resource roads, making it ideal for low-cost mine development.

Adrian Smith, president of ML Gold, commented: "We are extremely excited to continue drilling and to follow the newly identified copper system into a potentially economic orebody. Being involved in such an early-stage project that is having success in only its first year of exploration is full of exciting milestones; I believe the recent identification of a mineralized porphyry and breccia with grades in excess of 0.5 per cent copper is one of those milestones."

About ML Gold Corp.

ML Gold is a Canadian listed company, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.

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